{"id":1713784,"date":"2022-10-27T15:26:23","date_gmt":"2022-10-27T19:26:23","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1713784"},"modified":"2022-10-27T15:36:40","modified_gmt":"2022-10-27T19:36:40","slug":"mark-zuckerberg-is-down-100-billion","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mark-zuckerberg-is-down-100-billion\/","title":{"rendered":"Mark Zuckerberg Is Down $100 Billion"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">12<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmark-zuckerberg-is-down-100-billion%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1713784&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2022\/10\/27153634\/90-116\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<div class=\"RichTextArticleBody\">\n<div class=\"RichTextArticleBody-body\">\n<div class=\"Enhancement\">\n<div class=\"Enhancement-item\"><\/div>\n<\/p><\/div>\n<p><a class=\"Link\" href=\"https:\/\/washingtonexaminer.com\/tag\/facebook\">Meta<\/a> <span class=\"ArticlePage-articleBody-firstLetter\">C<\/span>EO <a class=\"Link\" href=\"https:\/\/washingtonexaminer.com\/tag\/mark-zuckerberg\">Mark Zuckerberg<\/a> saw his personal fortune drop this week as the company&#8217;s stock dropped in response to an abysmal quarterly report and has now seen his estimated net worth decline by 12 figures. <\/p>\n<p>The Facebook founder&#8217;s fortune plunged by $11 billion on Thursday as his company&#8217;s stock value dove, bringing his net worth to $38.1 billion, according to the <i><a class=\"Link\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-27\/mark-zuckerberg-net-worth-meta-ceo-s-fortune-tumbles-more-than-100-billion?leadSource=uverify%20wall\">Bloomberg Billionaires Index<\/a><\/i>. Zuckerberg has lost more than $100 billion over the last 13 months as his company spends incredible sums to pursue his vision of the internet through the <a class=\"Link\" href=\"https:\/\/washingtonexaminer.com\/tag\/virtual-reality\">metaverse<\/a>. <\/p>\n<p>Zuckerberg&#8217;s plunging fortune arrives after Meta reported a 4.5% drop in revenue in the third quarter on Wednesday. This decline in revenue was followed by Meta&#8217;s shares dropping 25% in value on Thursday as investors lost trust in the company. <\/p>\n<p><b><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/news\/facebook-fined-violating-campaign-finance-law\">FACEBOOK PARENT COMPANY WAS FINED NEARLY $25 MILLION FOR VIOLATING CAMPAIGN FINANCE LAW<\/a><\/b> <\/p>\n<p>Meta renamed itself in 2021, arguing that it intended to shift its investments toward virtual reality and augmented reality. The shift has been expensive. Reality Labs, the division focused on Meta&#8217;s metaverse efforts, cost the company $3.7 billion last quarter, compared to $2.6 billion that same quarter in 2021. Those losses are expected to increase next year, <a class=\"Link\" href=\"https:\/\/www.wsj.com\/articles\/facebook-parent-meta-shares-fall-to-new-multiyear-lows-11666882875\">according<\/a> to Meta Chief Financial Officer David Wehner. <\/p>\n<p>Meta&#8217;s VR efforts have struggled to attract users. The company&#8217;s main VR platform, Horizon Worlds, has <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/technology\/meta-struggling-attract-customers-metaverse\">reported<\/a> a low user base and the inability to get users to return. <\/p>\n<p>While most technology companies are reporting shrinking numbers, Meta&#8217;s shift in focus has made some uncertain about the company&#8217;s long-term economic value amid its efforts to relabel itself. &#8220;Nothing [Meta] spoke about yesterday actually is the business that today is worth $300 billion market cap,&#8221; Needham analyst Laura Martin told <i><a class=\"Link\" href=\"https:\/\/finance.yahoo.com\/news\/facebook-parent-meta-stock-down-151234088.html\">Yahoo Finance<\/a><\/i> on Thursday. &#8220;It&#8217;s almost like [Mark Zuckerberg] has walked away from the core business that&#8217;s historically made all the money.&#8221; <\/p>\n<p><b><a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/\">CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/b> <\/p>\n<p>Meta has faced additional pressure from state and international regulators in recent weeks. The company was <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/news\/facebook-fined-violating-campaign-finance-law\">fined<\/a> $25 million on Wednesday by Washington officials for failing to disclose political investments adequately. It was also <a class=\"Link\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/technology\/meta-sell-giphy-uk-regulator\">forced<\/a> to sell the GIF-hosting platform Giphy by British regulators over antitrust concerns.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Meta CEO Mark Zuckerberg saw his personal fortune drop this week as the company&#8217;s stock dropped in response to an abysmal quarterly report and<\/p>\n","protected":false},"author":1,"featured_media":1713789,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1713784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1713784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1713784"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1713784\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1713789"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1713784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1713784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1713784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}